All Forum Posts by: Matt Hildebrand

My wife and I are closing on a 2 bed condo in Breckinridge. We are using 1031 money and live full time in Ohio . I fill that the hold on new str licenses will stop the 10% appreciate a year. The cash flow and low holding cost makes it a safe place to park cash . 

I am closing on a nice ski condo in Breckinridge Colorado. Two bed two bath 1060 sf . Has a pool hot tub laundry game room and under ground parking. I live full time in Delaware Ohio and looking for a full service manager. Any one have a re

Investment Info:

Other commercial investment investment.

Purchase price: $203,000
Cash invested: $200,000

Mix use 4 units of apartments. And warehouse space of 2500 sf and storefront space of 1500sf . And a small parking lot.

What made you interested in investing in this type of deal?

I own other properties in same block

How did you find this deal and how did you negotiate it?

MLS and stock the listing agent and explained that I was the best buyer

How did you finance this deal?

Bank finance 100% of purchase price and rehab out of pocket

How did you add value to the deal?

Full rehab

What was the outcome?

I have added 10 k a month to my cash flow

Lessons learned? Challenges?

I worked thur the historicity arm of city and now under stand fire blocking from mix use .

We just added a 2 bed 2 bath condo in Breckinridge. in the village two blocks to gondola. The unit also has a pool ,hot tub,under ground parking and game room. We are based in Ohio and looking for recommends on Property management. Who do you use and pro and cons. 

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $250,000
Cash invested: $80,000

We paid 250k for two 4 bed 2 bath. One 2 bed 1 bath and garage. And a 3 unit with two 1 beds and 1 bath and a 2 bed 1 bath. So 6 doors in one city block . We separated all utilities and rehabbed 5 of the 6 doors and added laundry to them and the same finish as we do on all our units. It is fully rented at 6300 a month and value at 500 k . We have about 80k in rehab and a good 15 year mortgage on the purchase price or 250 k . So big cash flow and no utilities.

What made you interested in investing in this type of deal?

We have other doors in this part of town

How did you find this deal and how did you negotiate it?

Off market and from a sign we had at another house on same street we were rehabing

How did you finance this deal?

Add it to a prof olio loan

How did you add value to the deal?

Add Landry and full rehab

What was the outcome?

Add 4K a month in cash flow

Lessons learned? Challenges?

How to separate water with the city

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $250,000
Cash invested: $80,000

Off market deal form older landlord that called off a sign we had on another property we were rehabilitated . We paid 250k for two 4 bed 2 bath. One 2 bed 1 bath and garage. And a 3 unit with two 1 beds and 1 bath and a 2 bed 1 bath. So 6 doors in one city block . We separated all utilities and rehabbed 5 of the 6 doors and added laundry to them and the same finish as we do on all our units. It is fully rented at 6300 a month and value at 500 k . We have about 80k in rehab and a good 15 year mortgage on the purchase price or 250 k . So big cash flow and no utilities.

What made you interested in investing in this type of deal?

We have other doors in this part of town

How did you find this deal and how did you negotiate it?

Off market and from a sign we had at another house on same street we were rehabing

How did you finance this deal?

Add it to a prof olio loan

How did you add value to the deal?

Add Landry and full rehab

What was the outcome?

Add 4K a month in cash flow

Lessons learned? Challenges?

How to separate water with the city

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $250,000
Cash invested: $80,000

Off market deal form older landlord that called off a sign we had on another property we were rehabilitated . We paid 250k for two 4 bed 2 bath. One 2 bed 1 bath and garage. And a 3 unit with two 1 beds and 1 bath and a 2 bed 1 bath. So 6 doors in one city block . We separated all utilities and rehabbed 5 of the 6 doors and added laundry to them and the same finish as we do on all our units. It is fully rented at 6300 a month and value at 500 k . We have about 80k in rehab and a good 15 year mortgage on the purchase price or 250 k . So big cash flow and no utilities.

What made you interested in investing in this type of deal?

We have other doors in this part of town

How did you find this deal and how did you negotiate it?

Off market and from a sign we had at another house on same street we were rehabing

How did you finance this deal?

Add it to a prof olio loan

How did you add value to the deal?

Add Landry and full rehab

What was the outcome?

Add 4K a month in cash flow

Lessons learned? Challenges?

How to separate water with the city

The permit process is ez And the shame in most city’s in the us . You can print off the cad drawings from most egress well web sites . And hand delivery it to building office and fill out paper work for permit and ask to see a plans examiner . And in most cases walk out with a permit. Of drop it off and thay will let you know when you can pick it up .   Cost is around 300$ or so 

We add an egress window to all the newer home we own with basements. And it adds 400 a month to the rent . Pays for its self in less then a year . 

The only thing I see that works in Marion is meto . It is the secession 8 in Marion county. I have worked for a lot of investors that buy 3 or 4 bed houses for 25k or less . Rehab them to meto standards and get 750-900 a month. The code and Bilders department is not active and the labor is less expensive . If you want to stack up a lot of d class Property and deal with that asset class Marion would work . But buy for cash flow because the city is not appreciated in 50 years.